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Osteoarthritis Drugs Market – Effective Osteoarthritis Propel Growth: Pfizer Inc., Abbott, Eli Lilly and Company, ABIOGEN PHARMA S.p.A, Horizon Pharma plc

05-15-2019 05:58 AM CET | Health & Medicine

Press release from: Coherent Market Insights - Pharmaceutical Industry

Osteoarthritis Drugs

Osteoarthritis Drugs

Increasing prevalence of osteoarthritis is a major factor driving the osteoarthritis drugs market growth. According to the Global Burden of Diseases, Injuries, and Risk Factors Study (GBD) 2013, total prevalence of combined symptomatic and radiographic osteoarthritis of knee and hip was around 3.8% worldwide, with 20.3 % in males and 4.5% in females. Furthermore, key players in the market are focused on research and development of medication for symptomatic treatment of osteoarthritis, which is expected to drive the market growth. For instance, in April 2018, Flexion Therapeutics, Inc. initiated Phase III study of FX006 32 mg indicated for knee osteoarthritis. The study in expected to be completed by June 2020.

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However, use of Nonsteroidal Anti-Inflammatory Drugs (NSAIDs) such as ibuprofen and naproxen in pain management of osteoarthritis can cause cardiovascular diseases, which in turn is expected to hinder the market growth. In June 2018, the European League against Rheumatism (EULAR) stated the risk of cardiovascular diseases with the regular use of NSAIDs in the treatment of osteoarthritis pain. Key players in the market are focused on research and development of new therapies in order to address the critical unmet needs of patients. For instance, in December 2017, Regeneron Pharmaceuticals initiated phase III study of Fasinumab indicated in osteoarthritis. The study is expected to be completed in May 2019.

Moreover, increasing focus of market players to launch products for symptomatic treatment of osteoarthritis is also expected to boost the market growth. For instance, in January 2019, Bioventus launched DUROLANE in distribution partnership with Athrotech in Malaysia. DUROLANE is an injection for joint fluid osteoarthritis, which is indicated in mild to moderate knee osteoarthritis.

Increasing geriatric population associated with osteoarthritis is expected to drive the market growth. According to National Center for Biotechnology Information (NCBI) report published in August 2017, knee osteoarthritis accounts for around 80% of the total disease burden and affects around 19% of adults aged 45 years and above in the U.S..

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Key players in the market are focused on adopting strategies such as mergers and acquisitions to expand their product portfolio. For instance, in January 2016, Allergan acquired Anterios, Inc., a manufacturer of botulinum toxin-based prescription products.

Major players operating in the global osteoarthritis drugs market include Pfizer Inc., Abbott, Eli Lilly and Company, ABIOGEN PHARMA S.p.A, Horizon Pharma plc., Ferring B.V., Merck Sharp & Dohme Corp., Medivir, Bioventus, Inc., Sanofi, Flexion Therapeutics, Inc., Regeneron, and GlaxoSmithKline Plc.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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